Manufacturing sector bolsters woes for Bank of England…
The negative ambience of UK markets reversed this morning as bullish Manufacturing and Industrial Production for September provided welcome relief.
A misnomer many investors make at present is to cloud judgement on UK economic progress with only headline figures of Inflation and Brexit woes. The sharp upward trajectory of the Industrial sector shouldn’t be overlooked despite not filtering directly into GDP, as small steps in the right direction must be celebrated at a time where political dismay and negotiations across the Channel dominate headlines. British importers have undertaken a torrid period in the last 18 months, but possible pressure on sterling is perhaps not as bleak as markets feel.
Alex Lydall’s comments on today’s UK Industrial and Manufacturing Production print.
Quoted in Reuters